Half of Car Buyers ‘Regret their Choice’
Almost half of car buyers have regretted their choice of vehicle since they bought it, according to new research. Car trading website Autovolo polled 2,000 people and found that 47% admitted regrets, with the most common being down to running costs, mechanical faults and depreciation.
Nearly four in 10 (39%) of the sample, made up of a mix of people who had bought new and used cars, said they had underestimated the running costs of their chosen motor, saying that insurance, road tax or fuel costs had been higher than expected. And 26% said their car had suffered mechanical problems, with a quarter of these people also saying that it had happened within the first six months of their ownership. But of this group of owners whose cars had developed mechanical issues, almost 30% hadn’t even taken the car for a test drive before buying it, says Autovolo.
Meanwhile, 22% – likely to be new car buyers – complained about the amount of value their car had lost during their time with it. Depreciation is generally the most expensive aspect involved in buying a new car.
Sales Director, Stuart Askey, said: “Buying a new car is a huge deal for most families, probably only second to buying a house, and getting it right can help save you time, money –and a headache – down the line.
“We understand it can be quite the daunting task, with a lot of factors to consider, but it’s really important to complete your due diligence before signing on the dotted line.” He continued: “Some people admitted to rushing into buying a new car because they simply wanted to get their hands on a new registration plate. Others said they went for a sportier model, only to later come to regret how much their insurance had jumped up to and how much money they were actually spending on fuel.”